Debt Settlement and Management in Virginia

Virginia debt relief, including tax debt relief, is a partial or complete elimination of debt that a person has incurred over their lifetime. Rather than having to pay off their debts, people who opt for debt relief have their debts partially or entirely expunged. Chapter 7 bankruptcy often appeals to those who want Norfolk debt relief.

Taking out one loan to pay off several loans is known as Virginia debt consolidation, which can offer benefits similar to a mortgage refinance. Consolidating debt can secure a lower interest rate or just a fixed rate and ensures the convenience of only having to worry about one loan to pay off.

An agreement between a creditor and a debtor, also known as debt negotiation or debt arbitration, is often referred to as Virginia debt settlement. The person in debt can settle the debt with the creditor directly or the debtor can work with a Richmond debt settlement company or credit counseling center, which can lead to valuable credit repair.